Sometimes the findings on a home inspection reveal minor house problems that prospective buyers do not mind fixing themselves and will not deter them from buying the home. However, these major house issues are sure to kill the house buying deal. Know which ones to watch out for and make sure the home inspector will be heavily involved in making sure these major issues surely do not exist at all before you purchase any home.
Asbestos: We constantly see the TV commercials talking about being exposed to asbestos and how to be involved in a group lawsuit, and the dangers of contracting cancer and other diseases. Did you know that pre-1975 homes could have asbestos in roofing felt or in roof penetration sealant or in the insulation? Also, the tape used to seal ducts, cement board siding, and older tiling (usually in 9-by-9 tiles) could also contain asbestos.
Radon: Radon is a radioactive, naturally occurring, carcinogenic gas and can sometimes be found in homes, usually in basements or crawl spaces. In some cases, it can filter through the entire structure. Most homes don’t have this issue, but it is always good to double check during the inspection.
Pests: Depending on the types of pests involved, it may be as simple as hiring a pest inspector to remove them (like ants or other bugs), but if it is something more damaging, like termites, bats, spiders and rodents who overtook the entire house, it will for sure cost a potential home buyer tens of thousands and many weeks or months to remove them, and it still may not completely remove them all. So this can be a dealbreaker on a house.
A buried oil tank: If you’re buying a home built between the 1930s and the 1990s, there’s a chance something large is buried on the property. It may be an oil tank. If the tank was buried properly or professionally decommissioned, and the seller can show you suitable paperwork showing it was done right, you could leave it there. But if an inspection shows that the tank is currently leaking, it could cost tens of thousands of dollars (or more if groundwater is affected) to correct.
Exposed wiring: Exposed wiring is usually a minor issue, however, can pose a safety hazard. A bigger concern is old fashioned knob-and-tube wiring that is fairly common in homes built before 1930. That system rarely holds up for more than 80 years. Outdated or exposed wiring should be updated before you purchase a home.
For more info, read the full article here:
http://www.forbes.com/sites/trulia/2016/04/25/deal-breakers-6-inspection-issues-that-kill-the-deal/#7ebb13d51689